Tesla raises Model Y prices again amid strong demand, Long Range SUVs to cost 5 per cent more
- SUV’s Long Range edition will now sell for 394,900 yuan, up from 375,900 yuan previously
- US carmaker’s move suggests ‘it must have already secured strong orders’, analyst says
Tesla has raised the price of its Shanghai-made Model Y SUVs several times this year. On March 17, it raised price of the Model Y’s Basic Edition by 15,060 yuan to 316,900 yuan. The Long Range edition will now sell for 394,900 yuan, up from 375,900 yuan previously, the carmaker said on Friday.
“Since Tesla is confident about hiking the price of its vehicles, it must have already secured strong orders for the Model Ys,” said Phate Zhang, founder of Shanghai-based technology portal CnEVpost. “The Model Y is now favoured by many young Chinese customers, who are keen on owning an electric car.”
Last month, it sold only 5,875 units of the bestselling SUV, down by 53.8 per cent from a year ago because of disruptions caused by the lockdown. Buyers of the Long Range edition, which has a driving range of 660 kilometres on a single charge, will have to wait 20 to 24 weeks for deliveries, Tesla said on its China website.